Yumthai

Even if they wanted this is unenforceable according to the current Thai tax and residence law. The year you are tax resident you declare and pay tax on the previous year (1 single year) income. The year you are not tax resident remitted foreign-sourced income is not to be declared nor taxable.

I would write "receive income FROM inside or FROM outside Thailand" or simply "receive income within Thailand".

The way it is written is misleading as it is understood with "receive income inside or outside Thailand" that worldwide income is then taxable. "receive income inside or outside Thailand" is only valid for Thai-sourced income (Work performed in Thailand, Business in Thailand, Business of an employer in Thailand, Property located in Thailand). Foreign-sourced income must be remitted in Thailand in order to be taxed, and not taxable in Thailand if kept offshore (or remitted but tax exempted).

Possible, but the gifter should have already been known from the RD as TH taxpayer and Thai (tax) resident the year the gift occurs.

Agreed. Hence, it should be noted in the tax guide that: 53) Note: Only funds that are exempt from Thai tax or funds on which Thai tax has already been paid, can be Gifted. It is not possible to Gift funds that are assessable income, in order to avoid Thai tax. is an opinion/interpretation and not from Thai official source.

Yes, I consider paying 1M (5%) in tax negligible because the remaining 19M (that I will certainly make keep growing at more than 5% yearly over years) is more than enough to cover comfortably my family life. I'm not into collecting money for money, it's just a tool. But like you said, to each their own. I've lived in Bali. I'll choose Thailand anytime even if I had to pay 1M (5%) more in tax.

Nowadays working girls all accept PromptPay.

Indeed local income is always taxable, I was referring to foreign-sourced income remitted in Thailand legally tax-free while holding LTR visa.

Personaly, if I had 20M USD tax rates will not be the priority criteria I consider to select the place I want to live. Paying 1M USD in tax is 5%, will still have plenty of money to support a comfortable lifestyle almost anywhere in the world. Having to pay 5% (1K USD) on 20K USD would certainly be more concerning. Don't get me wrong I'm not saying that tax is fair, just that legal tax loopholes should not exist only for the wealthiest ones.

I understand very well what countries are doing taxing people. My point is that this LTR visa in unfair tax-wise but good for those who can afford it. In order to produce US$ 80K a year steady passive income you need at least US$ 7 figures invested, I consider it being well-off not rich.

No, I meant the more money you have the less an issue tax should be, as you can afford to pay it without impacting much your lifestyle or the place you wanna live. Whereas, if your income/wealth is limited tax impact cannot be neglected.

Not sure about that. Even without the tax exemption, the other perks alone exceed the other visas requirements. Furthermore, tax issue should not be something to consider (and remittances are manageable anyway) for big spenders willing to settle in Thailand, or is it?

I mean discriminatory in term of tax. You have to show enough money to qualify and pay no tax. To me, it's a huge benefit and significantly unfair. But good for anyone who qualifies and wants to live legally tax-free in Thailand. The LTR visa route is the go-to as all perks exceed all the other kind of visa at less average cost.

The icing on the cake has, since last September new order announcement, become a real discriminative benefit for those who qualify. Unfair rules do not incline people to follow it, unenforced laws neither (fortunately).

Thanks for the link. It shows that collecting a TIN, as a Financial Institution, is not a requirement (Section I paragraph 5.)... in case such Reportable Person is or may be eligible to obtain a TIN (or the functional equivalent) in its jurisdiction of residence, but is not required to obtain a TIN and has not obtained a TIN.

So basically, Thailand tries to copy the worst of the so-called developed world: wealthy people do legally not pay tax, the poor ones neither. Just milk the law abiding working-their-ass middle class to their death. No need to wonder why all this will not end well, globally.

I think that Thai RD, unlike IRS, has no means nor power to enforce anything out of Thailand borders. Could you bring any case of Thai law being enforced abroad?

If she has declared and pays VAT then that means she generates an annual turnover exceeding THB 1.8 million.

Found this recent Thailand PIT memo that could be somehow useful: https://www.luther-lawfirm.com/fileadmin/user_upload/PDF/Broschueren/Geschaeftsaktivitaeten_im_Ausland/Thailand/Memo_Personal_Income_Tax_in_Thailand_V8_01.pdf

It's not much about the tax return form. Rather, the way foreign-sourced income and tax residence rules are currently formulated prevents foreign-sourced income remitted in a year one is not tax resident to be taxed. It would be nonsensical to think they could enforce tax without first amending their own law.

Is having a US address mandatory in order to get the ATM card?

Regarding individual tax enforcement, Thailand is no different than most if not all countries: - For each single tax year, tax office will evaluate individual tax residence first and foremost. Then, a different set of tax rules will be applied subsequently whether the individual is considered resident or non-resident for tax purposes. - Non-residents for tax purposes are only taxed on their local(Thai)-sourced income. - DTAs can be applied, if any, in case of multiple tax residences. - Tax return is filed for 1 (calendar) year at a time (income from year Y23 is filed in year Y24 and so on). I get your point on Thai PM "intention" to close all tax loopholes however Thai tax residence rules, as it is for now, do not strictly allow it. https://taxsummaries.pwc.com/thailand/individual/significant-developments PWC: On 15 September 2023 and 20 November 2023, The Revenue Department issued No. Paw. 161/2566 and Paw. 162/2566 regarding personal income tax (PIT) for a Thai resident who brings assessable income into Thailand from abroad. This order shall come into force for assessable income brought into Thailand from 1 January 2024 onwards. According to this order: A Thai resident means a person residing in Thailand at one or more times for a period equal to 180 days in any tax (calendar) year. If a Thai resident earns foreign-sourced income in 2024 and brings it into Thailand in any subsequent year in which they are resident in Thailand, they will be subject to PIT on the income. It is clearly stated that the new order targets only Thai residents (implied Thai tax residents). https://www.mazars.co.th/Home/Insights/Doing-Business-in-Thailand/Tax/Thai-sourced-income-and-residence-rules Mazars: If such income is considered foreign sourced income (income derived from work performed outside of Thailand, business conducted outside of Thailand, or property situated outside of Thailand) it will be taxed in Thailand only if: i. an individual is a Thai tax resident; and ii. such individual brings such income into Thailand in the same calendar year that he receives it. Second condition is now obsolete but the individual still has to be Thai tax resident. Just my 2 cents quoting legal current information.

You declare only the year you are/were tax resident. If you ask RD they will tell you can't file a tax return for a year you are not tax resident unless you have local income. This is what all Thai people living/working abroad do. As non-residents they remit money into their Thai bank account or gift their relatives tax-free legally. If Thailand wants this to change, they will need to change tax residence rules. https://www.rd.go.th/english/6045.html "A non-resident is, however, subject to tax only on income from sources in Thailand."

Will be closed ... or not. Again, do not underestimate Thai RD lawyers and officials vision. My view is gift tax rules have been elaborated on purpose, allowing wealthy locals to avoid tax burden and keep money from overseas flowing into Thailand. Foreigner residents are just a tiny community collaterally and positively impacted by this. If ever they close this kind of tax loopholes, legal new ones will be implemented if they want to avoid an economical suicide.

https://sherrings.com/cryptocurrency-income-personal-tax-thailand.html "Personal tax on the amount of the proceeds that exceeds the costs of the investment (...), and tax credit against the amount of tax payable for the WHT deducted ..." "... crypto income from licensed exchanges in Thailand" "... crypto income outside Thailand and bringing it into Thailand"